Lowe’s Companies (NYSE:LOW) Coverage Initiated by Analysts at Sanford C. Bernstein

Sanford C. Bernstein assumed coverage on shares of Lowe’s Companies (NYSE:LOW) in a research note issued to investors on Tuesday, Marketbeat reports. The brokerage issued an outperform rating and a $323.00 price objective on the home improvement retailer’s stock.

Other research analysts have also issued reports about the stock. Piper Sandler boosted their price objective on shares of Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Gordon Haskett dropped their price objective on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research note on Wednesday, August 21st. Melius Research initiated coverage on Lowe’s Companies in a research note on Monday, September 23rd. They set a “buy” rating and a $290.00 target price for the company. Wedbush restated a “neutral” rating and issued a $250.00 price target on shares of Lowe’s Companies in a research note on Wednesday, August 21st. Finally, StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Eleven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Lowe’s Companies has an average rating of “Moderate Buy” and an average target price of $270.60.

Lowe’s Companies Stock Down 1.4 %

LOW stock opened at $267.64 on Tuesday. The company has a market cap of $151.83 billion, a price-to-earnings ratio of 22.19, a P/E/G ratio of 2.24 and a beta of 1.10. Lowe’s Companies has a twelve month low of $181.85 and a twelve month high of $287.01. The business has a 50 day moving average price of $260.28 and a two-hundred day moving average price of $239.69.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The business had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. During the same period last year, the business earned $4.56 earnings per share. The firm’s revenue was down 5.5% on a year-over-year basis. On average, equities research analysts anticipate that Lowe’s Companies will post 11.91 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio (DPR) is currently 38.14%.

Insider Transactions at Lowe’s Companies

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total value of $1,555,408.50. Following the sale, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the sale, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Institutional Investors Weigh In On Lowe’s Companies

Several hedge funds have recently modified their holdings of the company. Crew Capital Management Ltd. increased its holdings in Lowe’s Companies by 1.0% in the 3rd quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer’s stock worth $1,049,000 after purchasing an additional 37 shares in the last quarter. Summit Place Financial Advisors LLC increased its stake in shares of Lowe’s Companies by 2.8% in the third quarter. Summit Place Financial Advisors LLC now owns 1,375 shares of the home improvement retailer’s stock valued at $372,000 after buying an additional 37 shares during the period. Clean Yield Group raised its holdings in Lowe’s Companies by 2.4% in the 3rd quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock valued at $433,000 after buying an additional 38 shares during the last quarter. Drive Wealth Management LLC boosted its position in Lowe’s Companies by 2.2% during the 2nd quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock worth $418,000 after buying an additional 41 shares during the period. Finally, Chapin Davis Inc. grew its holdings in Lowe’s Companies by 1.3% during the 3rd quarter. Chapin Davis Inc. now owns 3,082 shares of the home improvement retailer’s stock worth $835,000 after acquiring an additional 41 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

About Lowe’s Companies

Lowe’s Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.